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The corporate has additionally been requested to make clear whether or not it’s stocking unregistered autos at its centres, the report added. The ministry additional demanded model-wise and variant-wise knowledge for the 7,820 electrical scooters Ola Electrical claimed to have delivered in February this 12 months.
The corporate has been directed to reply inside seven days of receiving the discover to keep away from any opposed motion.
In response, Ola Electrical stated that it had already disclosed the required data to the inventory exchanges and denied having obtained any order to close down over 100 of its showrooms in Maharashtra.
The corporate made this clarification in a submitting to the Nationwide Inventory Trade (NSE) on Friday, responding to a media report about enforcement motion by the Maharashtra Transport Division.
“We aren’t conscious of any such negotiations or occasions concerning a discover from the authorities ordering the speedy closure of over 100 showrooms in Maharashtra,” the corporate stated in its NSE submitting.
Ola Electrical additionally stated that it had already knowledgeable exchanges on March 21 about receiving notices from 4 states associated to commerce certificates at sure shops.
It maintained that each one required disclosures have been made consistent with SEBI rules, and there’s no undisclosed data that might clarify current actions in its share value.
“There is no such thing as a materials affect of this text on the corporate,” Ola Electrical added. As per Indian regulation, dealerships will need to have a sound commerce certificates to promote autos and even provide check drives.
Round 1.45 pm, Ola Electrical shares have been down almost 4 per cent at Rs 50.39 on Friday on the NSE.
